PENGARUH LIKUIDITAS, PROFITABILITAS DAN SOLVABILITAS TERHADAP HARGA SAHAM DENGAN NILAI PERUSAHAAN SEBAGAI VARIABEL INTERVENING

Nazia Krismanita; Meliza Meliza; Mahirun Mahirun

Nazia Krismanita Universitas Pekalongan
Meliza Meliza Magister Manajemen, Fakultas Ekonomi dan Bisnis, Universitas Pekalongan
Mahirun Mahirun Magister Manajemen, Fakultas Ekonomi dan Bisnis, Universitas Pekalongan

Keywords: liquidity, profitability, solvency, stock price, firm value

Abstract

The automotive sector is one of the industries that plays a strategic role in supporting economic growth in Indonesia. The growth of this sector is driven by high domestic demand and government support through policies that are pro-development for the automotive industry. The aim of this research is to determine and analyze the impact of liquidity, profitability, and solvency on stock prices, with company value (profitability) as an intervening variable, in automotive companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. This research uses a quantitative approach. The sample size for this study consists of 13 automotive sector companies listed on the Indonesia Stock Exchange from 2019 to 2023. Data collection techniques involve secondary data in the form of annual reports from 2019 to 2023. The data analysis used includes descriptive statistical tests, classical assumption tests, multiple linear regression, and hypothesis testing using SPSS. The results of this study indicate that profitability has a significant positive effect on stock prices. Liquidity and solvency have a negative but insignificant effect on stock prices, while company value has a significant negative effect on stock prices. Liquidity, profitability, and solvency have a negative but insignificant effect on stock prices with company value as the intervening variable.